Issue link: https://resources.tangoanalytics.com/i/1527888
Overall residential utility customer satisfaction has dropped as customers face higher energy bills and greater financial hardship. The ability to distribute cleaner energy safely, affordably, and reliably to all customers is the key to solving this issue. Currently, infrastructure, change management, and customer experience, or CX, barriers are delaying companies from distributing clean energy across our nation's electrical grid. Utilities must provide consumers with greater choices around consumption and conservation through offerings like smart meters and self-service portals — even digital payment channels. INCREASING CUSTOMER DEMAND FOR SUSTAINABILITY TOOLS: With the increasing emphasis on environmental sustainability, many customers are concerned about the impact of their energy use. Providers unable to demonstrate a commitment to renewable energy sources or sustainable practices, as well as to credibly talk about them and enable their customers to enact emissions reductions, may find it more difficult to retain customers. When utility companies have enough renewable energy sources connected, then they can offer consumers a choice of using traditional or renewable energy on their utility bills. As more eco-invested consumers choose green power, it increases the demand for renewable energy sources. Additionally, as renewable energy becomes less expensive to generate, it increasingly becomes the source of choice for a growing number of utility companies because it satisfies government regulations, consumer demand, and the cost of doing business. HIGHER BILLS IMPACTING CSAT: Increasing digital investments and enhancing operational tactics will be key to overcoming the looming challenges facing the utility industry, especially as sustainability reporting regulations necessitate tools and technology for non-financial data to operate with the same rigor as financial reporting. Through the digitalization of customer engagement platforms, electric utilities can engage with their customers in a more personalized and efficient manner, while balancing clean-energy transition goals and compliance with reporting mandates against customer affordability. Sustainability and energy data management software systems like WatchWire will help utilities increase efficiency, improve resiliency, and provide much-needed security of data and grid reliability. DIGITAL TRANSFORMATION BENEFITS FOR UTILITY COMPANIES Copyright 2024 Tango. All rights reserved. How Utilities Can Leverage Customer Engagement Platforms to Increase CSAT Scores and Promote Energy Efficiency For Their National Accounts